January 8th Resolution 4-2025 Fund Balances

resolution 1 page

Meeting: portal event 1008 (no meeting page on file)

Agenda item: Proposed Resolutions — Consider authorizing the Village Treasurer to assign $666,010 of the Unassigned Fund Balance to various assigned fund balances and restricted fund balances.

Resolution, 1 page. Attached to agenda item: “Proposed Resolutions — Consider authorizing the Village Treasurer to assign $666,010 of the Unassigned Fund Balance to various assigned fund balances and restricted fund balances.”

Retrieved 2026-04-15 from the village's meeting portal. View the original PDF ↗

Extracted text

On motion of TRUSTEE ___, seconded by TRUSTEE ____, the following 
resolution was adopted by the Board of Trustees of the Village of Croton- on-Hudson, 
New York, with a - vote. 
 
Resolution #4-2025 
 
WHEREAS, the Government Accounting Standards Board (GASB) issued GASB 
Statement Number 54 updating the classification of Government Funds taking effect 
June 30, 2011; and  
 
WHEREAS, the Village of Croton-on-Hudson adopted a Fund Balance Policy 
defining a reasonable level of Unassigned Fund Balance as no more than 25% of the 
total adopted budgeted expenditures of the General Fund; and 
 
WHEREAS, per the adopted Fund Balance Policy, the Unassigned Fund Balance is 
$666,010 over the defined reasonable level, 
 
NOW THEREFORE BE IT RESOLVED: that the Village Treasurer is directed to 
assign $666,010 of the Unassigned Fund Balance as follows: 
 
Increase the Assigned Fund Balance Designated for Future Retirement by 
$330,025 
 
Increase the Restricted Fund Balance Reserved for Tax Stabilization by 
$35,985 
 
Increase the Assigned Fund Balance for Capital Projects by $300,000. 
 
  Dated: January 8, 2025

Machine-extracted for search and reference — the original PDF is the authoritative version.